MA H3270

Establishes a basic exclusion amount of $2,750,000 for Massachusetts estate taxes, adjusted annually for inflation using the Consumer Price Index

Creates a graduated tax rate structure: 10% on taxable estates up to $5 million, 11% on $5-10 million, 12% on $10-20 million, and 13% on estates over $20 million

Excludes a decedent's principal residence from the gross estate (up to $2,750,000 in value) if owned and used as a primary residence for at least 2 of the 5 years before death

Allows surviving spouses to claim the deceased spousal unused exclusion amount (portability) for estates of decedents dying on or after January 1, 2025

Applies to estates of persons dying on or after January 1, 2024, with estates of those dying before January 1, 2025 subject to the law in effect at the time of death